Headlines from major financial sources virtually shouted that the Federal Reserve was suddenly employing “QE4” — quantitative easing — in a massive way to calm the bond markets roiled by the coronavirus. The Wall Street Journal declared: “Fed to Inject $1.5 Trillion” into the bond market while CNN shouted: “NY Fed to pump in $1.5 trillion to fight coronavirus-linked ‘highly unusual disruptions’ on Wall Street.”
New Rochelle, N.Y. — Living right next to New Rochelle, I was certainly struck when I heard it was the epicenter of Wuhan-virus infection in the United States. More than 100 of our nation’s at least 1,663 cases are in the small city of almost 80,000 people, the result of a congregant inadvertently infecting others at the Young Israel of New Rochelle synagogue earlier this month. That man, a lawyer who works near Grand Central Station in Manhattan, is currently hospitalized.